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What is Economics of Development Overview about?

This document provides an overview of the economics of development. It defines economic growth as a quantitative increase in output per capita, while economic development refers to qualitative socioeconomic changes, including a shift from agriculture to industry. It also discusses obstacles to economic development, including social, cultural, religious and political factors as well as market imperfections and vicious cycles of poverty. Vicious cycles occur when low productivity and income lead to low saving

Author

TECH TUBE

Language

EN